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Gomberg Report >
Large Apartment Complex Opportunities

We feel there is an opportunity for investors to purchase large apartment complexes by offering highly leveraged financing.

We have now added property listings for large apartment complexes with asking prices above $5,000,000. These larger deals potentially qualify for the HUD 223-F loan program.

This program offers 85% LTV financing. In addition, this program will allow the seller to hold up to 7.5% of the purchase price as a second mortgage. The combined LTV can be as high as 92.5% (subject to appraisal). This program also offers fixed-rate terms for 35 years, non-recourse terms and interest rates currently in the mid 5's.

To qualify for this program the property has to be in excellent condition and have an occupancy of at least 87%.

We have researched the listings on this page and we feel most of these properties would qualify for this HUD 223-F loan program.

 

Updated 1/14/2011
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New Listings are labeled for the first 2 weeks

State |

Town
Property Description
Asking Price
Gross Income
Gross Multiplier
Cost per unit
Comments
Contact Broker
Missouri
Branson
147 unit
Not Available
80,000
The property is bringing on line 36 units (included in the offering) in the next 30 days, ten are pre-leased. Current built out units are 100% leased. The property is fire sprinklered with smoke detectors. In ground irrigation sprinklered as well. On site security cameras and patrol. 11.46 acre lot offers many panoramic views. Recently appraised for $12,600,000. There are 24 1BR, 90 2BR/2BA and 24 3BR/2BA units.
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